New Delhi, Aug. 30 -- A Belgian court of appeals has once again denied bail to fugitive diamantaire Mehul Choksi, a key accused in the multi-crore rupee Punjab National Bank (PNB) loan fraud case. The decision comes just days before his extradition hearing, scheduled for mid-September.

Sources indicate that the court was persuaded by arguments from India's Central Bureau of Investigation (CBI), which emphasised Choksi's history of evading legal proceedings across multiple jurisdictions. The CBI submitted that if granted bail, Choksi posed a significant flight risk and could potentially flee to another country.

Choksi was arrested in Belgium in April following a formal request from Indian authorities. He and his nephew, Nirav Modi, are t...